Ethereum Price Surge: ETF Inflow Pushes ETH Above $1,800

US Ethereum ETFs witnessed a significant inflow of $38.74 million on April 22, marking the highest single-day addition since February, ending an eight-week streak of outflows. Following this, Ethereum’s price rose above $1,800, reflecting overall bullish sentiment in the crypto market, bolstered by potential easing of tariffs and political stability. Bitcoin also saw notable rises, reinforcing total market capitalisation beyond $3 trillion. Analysts suggest further gains for Ethereum may depend on maintaining momentum and technical breakouts.

On April 22, US Ethereum ETFs recorded their largest single-day inflow since February, with $38.74 million added after a two-month period of sluggish performance. This influx concludes an eight-week trend of outflows, during which a total of $910 million was withdrawn. Fidelity’s FETH and Bitwise’s ETHW attracted most of the new investments, receiving $32.65 million and $6.09 million, respectively. Overall, this recovery indicates growing investor interest despite ongoing market challenges.

Subsequent to the ETF inflows, Ethereum’s price surged above $1,800 on April 23, indicating a 14% increase over two days, marking its most significant price movement in weeks. Contributing factors to this bullish trend include potential easing of tariffs with China, renewed investor confidence regarding the US dollar amidst political instability, and the appointment of Paul Atkins as the new SEC chair, perceived as a more crypto-friendly figure.

Additionally, Bitcoin has also seen substantial gains, climbing to $93,385 and pushing the total cryptocurrency market capitalisation above $3 trillion. Bitcoin’s rise, at 13.6% during April, outstrips traditional assets like gold which has only risen by 6.7%. Key metrics indicate Ethereum is up 13.73%, while Bitcoin is up 6.34%, with traditional indices like the S&P 500 and the USD Index down around 5% this month.

Looking ahead, if Ethereum surpasses $2,000 and establishes a higher high, analysts suggest potential for further gains. However, there are warnings that without sustained momentum, this price rise could be temporary. The sentiments expressed in the ETF trends reflect a rising confidence in the market, although continued technical advancements and macroeconomic stability will be crucial for sustained growth.